China: Palm Kernel Oil Market Overview 2021

Palm Kernel Oil Market Size in China

In 2020, the Chinese palm kernel oil market decreased by -X% to $X, falling for the third year in a row after three years of growth. The market value increased at an average annual rate of +X% over the period from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2010 when the market value increased by X% year-to-year. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2020, consumption remained at a lower figure.

Palm Kernel Oil Production in China

In value terms, palm kernel oil production declined sharply to $X in 2020 estimated in export prices. in general, production showed a pronounced increase. The pace of growth appeared the most rapid in 2015 with an increase of X% year-to-year. Palm kernel oil production peaked at $X in 2019, and then contracted significantly in the following year.

Palm Kernel Oil Exports

Exports from China

In 2020, overseas shipments of palm kernel and babassu oil were finally on the rise to reach X tonnes for the first time since 2017, thus ending a two-year declining trend. in general, exports, however, saw a abrupt setback. The pace of growth was the most pronounced in 2009 with an increase of X% year-to-year. Over the period under review, exports hit record highs at X tonnes in 2010; however, from 2011 to 2020, exports stood at a somewhat lower figure.

In value terms, palm kernel oil exports soared to $X in 2020. Overall, exports, however, showed a abrupt decline. The growth pace was the most rapid in 2009 when exports increased by X% against the previous year. Exports peaked at $X in 2010; however, from 2011 to 2020, exports remained at a lower figure.

Exports by Country

Viet Nam (X tonnes), Zambia (X tonnes) and Mozambique (X kg) were the main destinations of palm kernel oil exports from China, together comprising X% of total exports.

From 2007 to 2020, the biggest increases were in Viet Nam, while shipments for the other leaders experienced mixed trend patterns.

In value terms, Viet Nam ($X), Zambia ($X) and Mozambique ($X) were the largest markets for palm kernel oil exported from China worldwide, together accounting for X% of total exports.

In terms of the main countries of destination, Viet Nam saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2020, the average palm kernel oil export price amounted to $X per tonne, falling by -X% against the previous year. in general, the export price, however, posted a buoyant expansion. The growth pace was the most rapid in 2015 an increase of X% year-to-year. Over the period under review, average export prices hit record highs at $X per tonne in 2019, and then dropped modestly in the following year.

There were significant differences in the average prices for the major foreign markets. in 2020, the country with the highest price was Mozambique ($X per tonne), while the average price for exports to Viet Nam ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Zambia, while the prices for the other major destinations experienced more modest paces of growth.

Palm Kernel Oil Imports

Imports into China

In 2020, overseas purchases of palm kernel and babassu oil decreased by -X% to X tonnes for the first time since 2016, thus ending a three-year rising trend. in general, total imports indicated a measured expansion from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2009 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tonnes in 2019, and then contracted in the following year.

In value terms, palm kernel oil imports contracted to $X in 2020. Overall, total imports indicated slight growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports decreased by -X% against 2017 indices. The pace of growth appeared the most rapid in 2010 when imports increased by X% y-o-y. Imports peaked at $X in 2017; however, from 2018 to 2020, imports remained at a lower figure.

Imports by Country

In 2020, Indonesia (X tonnes) constituted the largest palm kernel oil supplier to China, accounting for a X% share of total imports. Moreover, palm kernel oil imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tonnes), threefold.

From 2007 to 2020, the average annual growth rate of volume from Indonesia amounted to +X%.

In value terms, Indonesia ($X) constituted the largest supplier of palm kernel oil to China, comprising X% of total imports. The second position in the ranking was occupied by Malaysia ($X), with a X% share of total imports.

From 2007 to 2020, the average annual rate of growth in terms of value from Indonesia stood at +X%.

Import Prices by Country

The average palm kernel oil import price stood at $X per tonne in 2020, falling by -X% against the previous year. Over the period under review, the import price recorded a noticeable decrease. The growth pace was the most rapid in 2010 an increase of X% y-o-y. The import price peaked at $X per tonne in 2011; however, from 2012 to 2020, import prices failed to regain the momentum.

Average prices varied noticeably amongst the major supplying countries. in 2020, the country with the highest price was Malaysia ($X per tonne), while the price for Indonesia stood at $X per tonne.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Indonesia.

Source: IndexBox Platform